Incubator executive aims to guide US, Chinese firms

Wang views the search for tech talent and incubation-ready startups as crucial.

"I believe in taking the initiative in the US for talent; incubation is extremely important in today's business world," he said. "We will focus on bringing Chinese businesses into the US, creating local jobs, bringing more investment into the US market and prospecting talent and companies that would like to do business in China."

Hanhai Investment, which is backed by China's industry-leading Zhongguancun Science Park, will provide high-quality professional services to startup companies in both the US and China. The goal is to help enterprises and personnel interested in cross-border expansion by providing services such as entrepreneur mentoring as well as advice on technological development, financing and project planning

Wang's decision arose from his having noticed two phenomena in recent years: Many Chinese companies intended to do business in the US but had no clue how, while US startups in China lacked resources to get established locally.

"We now can do the perfect matchmaking - providing market channels and having both sides take advantage of Hanhai's connections in China with this platform," he said.

For US companies trying to break into China, the resource deficiency usually is tied to staffing, office space, equipment, connections, tax incentives, legal counsel, knowledge and training, funding and a professional environment that promotes business progress. Wang favors the "plug and play" business model, in which a business incubator equips its members with phones, IT support, cleaning, shipping, financial services and 24-hour security guards.

"We chose our US headquarters to be in a prime area of the Bay Area because it's where US businesses can prepare before crossing the ocean. We also value the location because this is where high-tech talent gathers. We want to show that our company isn't only serious about helping Chinese tech companies launch their business in the US but is also serious about helping US companies enter the Chinese market.

"In that sense, our incubation center is a perfect window for both sides to start up their ventures. US companies will have a chance to know about doing business in China, and Chinese firms can take a chance on going abroad and doing business in the US."

This endeavor is just a start, Wang said. He plans to buy commercial property to establish scientific centers in North Carolina and Boston. In the near term, he envisions a biotechnology-science incubation center in Redwood City, California, where many biotech companies are located.

"The challenge we face, however, is how we stand out in this niche market and make it a success," he said. "We're taking advantage of the market by getting a head-start, but there is still a lot to learn from US incubators that have been in this business for years, especially in Silicon Valley."

Wang's appreciation for learning is shown in his still-daily practice of calligraphy. Even while on a dignitary's US-bound airplane, he found time to put brush to paper. Many of his works hang in the office buildings his company owns. His passion for art reflects what Wang believes he should achieve in life.

"Art and business are actually closely related with very similar principles. Calligraphy brings me calmness and lightheartedness in today's fast-spinning world. It even helps decision-making because calligraphy helps practice 'inner peace' that keeps great balance for a businessman like me."

kellyzhang@chinadailyusa.com